Total chief comments will not affect Iran nuclear talks: France

ENERGY TECH

Total chief executive Christophe de Margerie told the Financial Times it was too great a "political risk" to invest in Iran, dealing a serious blow to the Islamic republic's hopes of boosting its gas exports.

by Staff Writers
Paris (AFP) July 10, 2008
The announcement by French energy giant Total that it is too risky to invest in Iran will not affect international efforts to resolve the crisis over Tehran's nuclear programme, France said Thursday.

"This is a decision by a private company, which by its nature has no reason to interfere with the positions of the international community on Iran's nuclear programme," French foreign ministry spokesman Eric Chevallier told a press briefing.

The French group was the last major Western energy group considering a big investment in the country.

The announcement came amid escalating tensions between Tehran and world powers, led by the United States, which suspect it of developing a covert nuclear weapons programme.

On Wednesday, Iran test-fired a Shahab-3 missile which it said is capable of reaching Israel and continued missile tests Thursday, fuelling fears of a conflict over its disputed nuclear drive and triggering a rise in oil prices.

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ENERGY TECH

Oil higher on Iran tensions

Singapore (AFP) July 10, 2008
Oil prices rose in Asian trade on Thursday, gaining support from Iran's test of a missile that could hit Israel, dealers said.

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